Emart shares rose for a second straight day after it decided on a tender offer to make Shinsegae Food a wholly owned subsidiary.
As of 9:43 a.m., Emart was trading at 92,400 won on the main bourse, up 3,000 won (3.36%) from the previous session. The day before, Emart shares jumped more than 8% at the close..
Earlier, Emart said on the 15th it will conduct a tender offer for Shinsegae Food, a subsidiary in which it holds 55% equity.
Emart plans to delist Shinsegae Food through procedures and methods permitted by relevant laws after the tender offer through Jan. 5 next year. The tender offer price is 48,120 won per share.
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